Tantallon Capital has begun to rebuild its asset base after hitting rock-bottom two years ago.

The Singapore-based firm, which once managed US$1.7 billion, has seen its assets triple since 2009 to US$300 million, including US$50 million this year. The firm hopes to boost its assets to US$500 million over an unspecified period of time.

Tantallon was battered by redemptions, in no small part because it did not restrict withdrawals.

"Most of the growth has come from Europe," co-founder Alex Hill told Reuters. "We have been added to two platforms there and we have picked up some segregated assets."

"I would like to see assets under management grow to US$500 million at the first stage and then to US$1 billion, with an even spread between strategies," he added.

With inflows returning, Tantallon has begun hiring, bringing back John Muelle, who left the firm for JPMorgan Chase last year, in New York, and hoping to "grow headcount in Singapore in the space of the next 12 months," Hill explained.

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The testimony of former FBI Director James Comey came and went with more hype than harm to Donald Trump’s administration. The more important issue is whether Congress spent too much political capital to get comprehensive tax reform done by the end of 2017. The likelihood of significant policy changes is fleeting for the year. Some economists are even losing hope that tax reform will be completed by the midterm elections of 2018.